News

Recession Briefing 2.5

What you need to know today to survive and thrive in the recession.

Boo Hoo in the Boardroom (NYT)
Better not bitch about that bonus, Sir Wall St. Timothy Egan sounds off on the class resentment sweeping the country. The conversation about wealth has changed, and woe to the tone-deaf.

For Pawnshops, the Recession Is a Golden Egg (Business Week)
Cash America feels hawkish about the recession. That right, the company that brought pawnshops mainstream is boosting online loans offers and expanding a payday cash-advance feature.

Recession prompts bird flu concerns; seasonal flu slow (USA Today)
Bird flu could turn into “Recession Fever.” The global recession could threaten work to keep the deadly H5N1 strain in check in birds, which in turn limits its spread to people.

Visa profit jumps 35 pct despite recession (AP)
Buy some Visa stock, and put it on your credit card. Visa Inc. said its fiscal first-quarter profit rose by 35 percent as the shift from cash toward electronic payments maintained its staying power, even while consumers tightened spending.

Pay-TV could be good recession bet in 2009 (MSNBC)
I want my Pay TV. It wasn’t a great bet against the recession in 2008, but with cable and satellite shares near all-time lows and their capital spending also dropping, Pay TV could be a safe haven this year.

Only in SF? Recession-era protests of “Made in America” business (SF Gate)
San Franciscans may keep American Apparel at bay. Protestors feel that the popular clothing firm (that boasts its products are all made in America) is bad for the area because it is a corporate chain and destroys local flavor.

Amid Anger Over Economy, Obama Looks For Right Tone (WP)
Caught between a rock and a shit-storm, Obama struggles to connect with Americans livid about vanished jobs, decimated retirement accounts, and the excesses of the wealthy.

Asian Stocks Fall on Renewed Recession Concern; Qantas Tumbles (Bloomberg)
Asian stocks fell for the first time in three days, led by health care and technology companies, as broker downgrades and share sales in Australia renewed concerns the global recession is deepening.

Congress Wants a Trade War (WSJ)
The House of Representatives’ version of the economic stimulus bill contains a provision that only American-made steel and other products be used for the infrastructure projects. Is this protectionist?

Unemployment insurance an option for travelers (MSNBC)
Snowy roads may have some people dreaming of sunny skies and a getaway vacation. But before you plan, pay and pack, are you covered for not just a flight cancellation, but a job cancellation, as well?

Tags: News